(Asset Protection and Asset Recovery blog post)
by Brian Mahany
Why do so many fraudsters live in Florida? Some would say its the climate but more probably, it’s Florida’s unlimited homestead exemption. Under Florida law, creditors cannot force the sale of one’s primary residence to satisfy claims and judgments. Many lawyers and creditors believe that protection is …
Tag Archives: Asset Protection
Fraudsters Beware - Homestead Exemptions Don’t Always Work
Tax Evasion in China Could Put You in Front of a Firing Squad!
by Brian Mahany
It’s a rainy day in Macau, a former Portuguese island colony off the coast of China. My work as an asset protection and asset (fraud) recovery lawyer frequently takes me to interesting spots in the world. This week is no exception.
Many nations are popular for Americans seeking to diversify their banking risks and …
Are Your Assets Safe in the Isle of Man? Yes.
by Brian Mahany
Situated mid-way between England and the Republic of Ireland sits the small, 227 square mile nation of the Isle of Man. With a population of just 80,000 residents, the Isle of Man is a popular destination for offshore asset protection. A recent statement by the chief executive of the Isle of Man Financial …
When It Comes To Banking, “Don’t Ask, Don’t Tell” Is The Best Policy (offshore accounts)
by Brian Mahany
Government tax authorities asking banks and credit card companies for information on foreign account holders is hardly news these days. The I.R.S. does it, so do Germany, Britain and many other countries. Officials want to know when their citizens transfer wealth overseas or open foreign accounts. Generally the practice is legal if the …
How Stupid Can They Be? Plenty! (Fraudulent Conveyance Post)
How Stupid Can They Get? Plenty Stupid!
(A discussion of fraudulent conveyances)
by Brian Mahany
It was inevitable - massive fraud in the government’s bailout program from 2008. The U.S. Troubled Assets Relief Program (or “TARP”) had it’s first major arrest. Charles Antonucci, former head of New York’s Park Avenue Bank, was indicted for fraud, embezzlement and misappropriation. …
Send In the Clowns (Asset Recovery & Protection)
by Brian Mahany
In January I wrote a piece titled “Do You Know Who Is Handling Your Money?” That piece discussed how TV star Willie Adams (star of reality television show “Broke and Famous”) was now licensed to be a financial planner. Willie isn’t alone.
The newest entrant in my personal “Hall of Shame” is Kevin Trudeau.
Trudeau …
Will the Tax Man Resort to Illegal Bribes to Get Information? YES!
by Brian Mahany
Last summer I discussed the how the German government bribed a Liechtenstein bank employee to obtain confidential tax information - the names and addresses of German account holders with accounts at LGT Bank. What many did not know, however, was that Germany then apparently shared that illegally obtained information with other tax authorities, …
Scam or Legit? Pre-Paid Offshore Debit Cards with No Personal Details
by Brian Mahany
Sounds too good to be true. A Master Card debit card with no name on it. Issued by a bank in Central America, the card does not bear the cardholder’s name. Not on the front of the card or in the magnetic strip. Apparently the bank requires some identification details but claims those …
Do You Know Who Is Handling Your Money? You Should.
How Well Do You Know Your Financial Professional?
Recently I blogged about the Financial Industry Regulatory Authority (”FINRA”) and the gaps in their “Broker Check” system. Since writing that piece, FINRA has begun correcting some of the problems. Unfortunately it is difficult to check the compliance histories of most other financial professionals. Few people know how …
Obama’s Financial Fraud Enforcement Task Force - Same Ole, Same Ole?
by Brian Mahany
In many ways, the United States government is more about public relations and propaganda and less about action. Take the recent press event in November announcing the creation of the Financial Fraud Enforcement Task Force.
Facing rising public and political pressure in the aftermath of the last year’s financial meltdown, President Obama signed an …